Awake-In-3D: Commercial Real Estate: A Likely Trigger for Fiat Financial System, then US Dollar Collapse

Awake-In-3D:

Commercial Real Estate: A Likely Trigger for Fiat Financial System, then US Dollar Collapse

On June 20, 2023 By Awake-In-3D

CRE (Commercial Real Estate) debt is a ticking time bomb for the U.S. banking/financial industry. It’s forming a perfect storm with serious implications for the Fiat Dollar. Here’s what’s happening:

• The FED has raised interest rates faster and higher that any time in history making CRE new loans far more expensive than a few years ago.

• Tennant occupancy and lease revenues are are at an all time low due to the new work-from-home business landscape reality today.

• As CRE Development and Property Management firms seek to refinance their properties, they no longer qualify for new loans due to the higher interest payments coupled with lower Tennant revenue streams.

• Banks are increasingly tightening their lending standards to prevent further erosion of bank stability and risk aversion.

• Many CRE properties will be forced into bankruptcy as loans dry up and foreclosures are ramping up each month right now.

• Pension and Insurance firms holding CRE bonds for revenue (liquidity to pay beneficiaries and claims) will come under increasing operational stress as all perfect storm above plays out.

• This will all culminate in U.S. Fiat Dollar weakness sparking a global fiat currency collapse.

U.S. CRE (Commercial Real Estate) assets grew to $6.0 trillion (23.0% of GDP) by the end of 2022. Life insurance companies hold 12% of that.

The U.S. Life Insurance sector holds about $900 billion, or 17% of their total cash and invested assets, in CRE – mostly in commercial mortgage loans (CMLs) and Commercial Mortgage Backed Securities (CMBS).

Over one-fifth of the industry’s total CRE exposure is to the office sub-sector, while another 16% is to retail.

Also, US Small Bank’s exposure to CRE has ballooned during the last few years. If CRE comes under stress as many fear, we will see a huge turmoil in the banking/financial sector.

There is growing concern over a potential commercial real estate (CRE) debt crisis that could trigger a collapse in the financial system and devalue the U.S. Dollar. While U.S. banks were viewed positively last year, the alarm has been raised due to smaller banks’ exposure to CRE, particularly commercial offices that have been financially impacted by the increase in remote work.

As downtown offices remain empty or underutilized, the value of office buildings is declining, and smaller banks hold a significant share of these assets. Unlike larger banks, which only have about 6% of their assets in CRE, many smaller banks have around 33% exposure to the sector. Small banks have historically faced challenges in commercial real estate, often leading to their failure. This creates additional stress on small banks and the associated risks to the economy. Banks are facing increased pressure to tighten credit standards while managing their declining CRE portfolios.

Furthermore, the Federal Reserve’s ongoing interest rate increases add to the concerns. While the decline in office occupancy hasn’t fully affected the CRE sector yet, many CRE loans are coming due in the coming months. This presents challenges for new lending and refinancing, as reduced rental revenues and higher interest rates for borrowing and refinancing pose significant obstacles.

The key problem is the potential impact of these risks on overall economic stability. Financial crises in specific sectors have historically spread through contagion to other sectors, causing dramatic economic pain. Past crises such as savings and loans, developing country debt, energy finance speculation, and the mortgage and securities crisis of 2008 have revealed the risks of speculative booms affecting the entire economy.

This time, the problem lies in a much larger financially driven crash associated with risky lending and contagion, primarily driven by small banks and CRE lending. If a contagion takes hold and spreads to other, already strained financial system sectors, the probability for a system-wide collapse increases exponentially. Then down goes the Fiat U.S. Dollar.

Awake-in-3D GCR RealTimeNews

https://ai3d.blog/commercial-real-estate-a-likely-trigger-for-fiat-financial-system-then-us-dollar-collapse/

Awake-in-3D: "IMF’s Global CBDC Platform: Another Step Towards an Elitist Global Currency Reset?"

IMF’s Global CBDC Platform: Another Step Towards an Elitist Global Currency Reset?

On June 19, 2023 By Awake-In-3D

The IMF is developing a platform for central bank digital currencies to enable cross-border transactions, but this appears to be yet another step towards a global currency reset backed by fiat currency-based assets, including gold hoarded by central banks, leading to an elitist financial system. Is this the future of money, or a dangerous step towards economic inequality?

I have always held the view that there are two GCR scenarios heading our way. Our GCR and the Elitist Monetary Reset. This is obvious given that both sides know the current, global fiat system experiment is coming to its logical conclusion.

Both alternative systems will utilize assets. Our GCR is backed by off-ledger gold, their Reset will be backed by fiat currencies, perhaps SDRs (Strategic Drawing Rights), and perhaps some central bank gold reserves – which is why global central banks are buying gold in record amounts over the past 18 months.

The IMF’s most recent announcement of their interconnecting CBDC payment platform initiative is their next step.

The International Monetary Fund (IMF) is developing a platform for central bank digital currencies (CBDCs) that will enable cross-border transactions. The IMF wants central banks to agree on a common regulatory framework for digital currencies to allow global interoperability.

Already, 114 central banks are exploring CBDCs, with about 10 having crossed the finish line. IMF Managing Director Kristalina Georgieva emphasized that CBDCs should be backed by assets, and that cryptocurrencies are an investment opportunity only when backed by assets. Georgieva also suggested that CBDCs could promote financial inclusion and reduce the cost of remittances.

The creation of a global CBDC platform would prevent the rising popularity of decentralized cryptocurrencies from filling a regulatory void. Critics suggest that this is another step towards a global currency reset backed by fiat currency-based assets, including gold hoarded by central banks, leading to an elitist financial system.

Article Reference: www.reuters.com/markets/imf-working-global-central-bank-digital-currency-platform-2023-06-19/

https://ai3d.blog/imfs-global-cbdc-platform-another-step-towards-an-elitist-global-currency-reset/

Iraqi News Highlights Tuesday Afternoon 6-20-23

Iraqi News Highlights Tuesday Afternoon 6-20-23

Tlm724 Administrator Bondlady’s Corner

Iraq Retreats 3 Ranks Among The Largest Holders Of US Bonds

Economy | 09:51 - 06/20/2023   Follow-up - Mawazine News  The US Treasury announced, on Tuesday, that Iraq has fallen three ranks among the largest foreign holders of US bonds.

The treasury said in the latest table, seen by Mawazine News, that "Iraq fell three ranks after it reduced its holdings of bonds during the month of April, to reach the 36th rank among the countries with the largest possession of US Treasury bonds, which number 38 countries listed in the table of countries that must It has more than $28 billion.

And she added, "Iraq's possession of these bonds amounted to $34.8 billion for the month of April, down by 11.45% from last March, which Iraq's possession of bonds amounted to $39.3 billion, but it increased by 23% from March of the year 2022."

The treasury also indicated that "Iraq was the fourth largest Arab country after Saudi Arabia, the UAE and Kuwait, while Japan came at the top of the countries with the largest possession of these bonds at $1.127.2 trillion, followed by China second with $869 billion, the United Kingdom third with $680 billion, and Belgium fourth." with 336 billion dollars, and Luxembourg fifth with 332 billion dollars.

And it indicated that "the total bonds of the countries of the world for the month of April rose by 7 billion dollars from last February, to reach 7 trillion and 580 billion dollars." Ended 29 / A

https://www.mawazin.net/Details.aspx?jimare=229692

India: Our Investment Companies Want To Implement Important Projects In Iraq

Reconstruction and building   Economy News – Baghdad  Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani stressed, on Tuesday, the importance of developing and expanding horizons of bilateral cooperation with India in all fields, including economic, trade, financial, technical, health, agricultural, cultural and others.

And the Ministry of Oil stated in a statement that, "This came during the signing of the memorandum of understanding with his Indian counterpart, Minister of Oil, Natural Gas, Housing and Urban Affairs Hardeep Pureh in the Indian capital, New Delhi."

Abdul-Ghani said, "Iraq considers India an important trading partner and one of the most important importers of Iraqi crude oil. We have historical relations, friendship and distinguished cooperation with them, and India today represents an economic and industrial power that is witnessing rapid growth."

Abdul-Ghani pointed out the keenness of the two countries to activate and expand the horizons of bilateral cooperation through the activation of the Memorandum of Understanding, which includes several axes, including trade, financial, energy, economic, industrial, scientific, health, technical, agricultural, cultural and consular cooperation, training, exchange of experiences and other axes that serve common interests. "Indian investment companies to work in Iraq and in all fields."

For his part, Bureh said, "Iraqi-Indian relations are witnessing a great development," stressing "the depth of historical relations between the two countries and India's keenness to be an important trading partner for Iraq, and to strengthen these relations in all fields." He also stressed "the desire of Indian companies investment to implement important projects in Iraq.

40 views   06/20/2023 - https://economy-news.net/content.php?id=34834

Commerce Adopts The Electronic System Mechanism In Registering New Companies

Money  and business  Economy News _ Baghdad  Today, Tuesday, the Ministry of Commerce clarified the mechanism for registering new companies, while noting that 48 services related to company registration will be transferred to the electronic system within two weeks.

The Director General of Companies Registration in Iraq at the Ministry, Rashad Khalaf Hashem, said, in an interview with the Iraqi News Agency, which was followed by "Al-Iqtisad News", that "the Ministry, through its website, clarifies the steps for those wishing to establish new companies, starting with the first step, which includes uploading documents to the system and sending them to the Registrar and the documents. required and ending with obtaining the company incorporation license.

He explained that "after the company's lawyer pays the fees, the incorporation license for the company is obtained within a maximum period of 10 days."

He pointed out that "the ministry, in cooperation with the Chamber of Commerce and the Federation of Chambers, has enabled the citizen to submit the name of the company, reserve it, and pay the names through the ministry's fee, as the Chamber of Commerce fees are not paid," noting that "the fees are fixed and the percentage of wages imposed increases according to the increase in the company's capital."

He pointed out that "citizens can now pay fees through the electronic payment service and through the electronic payment company Swage," stressing that "48 services will be converted to electronic within a maximum period of two weeks, which will make a difference by reviewing the Companies Registrar."

61 views  06/20/2023 - https://economy-news.net/content.php?id=34830

More Than $250 Million In Iraqi Central Sales Today

Tuesday 20, June 2023 12:17 | Economical Number of readings: 403  Baghdad / NINA / - Today, Tuesday, the Central Bank of Iraq sold more than 250 million dollars in foreign currency auction.

The electronic currency sale window stated that "the total amounts of transfers abroad (remittances, credits) amounted to 195,386,600 dollars." While "the total amounts of cash sales amounted to 56,700,000 dollars, and the total sales amounted to 252,086,600 million dollars."/ End 11

https://ninanews.com/Website/News/Details?key=1060602

A Slight Decrease In The Price Of The Dollar On The Local Stock Exchange

Tuesday 20, June 2023 11:23 | Economical Number of readings: 438  Baghdad / NINA / - The exchange rate of the dollar recorded a slight decrease in the local stock exchange.

The purchase price of the dollar was swallowed 500.145 thousand dinars per hundred dollars, while the selling price swallowed 500.146 thousand dinars per hundred dollars./ End2

https://ninanews.com/Website/News/Details?key=1060594

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

From Redd Starr: "IMF, METAC & Iraq" 6-20-2023

Emailed to Recaps-Thank you Redd Starr!

Redd Starr:  IMF, METAC, & Iraq

I'm going to try to set this information up & hopefully give everyone a clear picture of where we are at in this process. I don't believe that we'll be waiting much longer for this blessing!

METAC (Middle East Regional Technical Assistance Center) released some information, not long ago, that has some key information! I haven't seen anyone talking about this, so I wanted to share it!

Who is METAC? METAC is a collaborative venture between the International Monetary Fund (IMF), member countries, and bilateral and multilateral development partners. The mission of METAC is to assist members in advancing public policies and institutions that enable inclusive and sustainable growth, so that living standards improve for all citizens.

METAC provides capacity development services in the areas of Banking Regulation and Supervision, Central Bank Operations, Public Financial Management, Revenue and Customs Administration, and Real Sector Statistics.

Before I give you the link to what I'm talking about, here is some more key information.

There have been numerous articles stating that Iraq had a plan, a 3 step process! We are about to see the 3rd and final step!

https://ina.iq/eng/24702-adviser-to-the-prime-minister-reveals-a-new-package-of-the-process-of-reforming-the-iraqi-economy.html

"Wait for the next package of reforming the Iraqi economy,"

https://www.iraq-businessnews.com/2023/04/06/the-iraqi-budget-and-the-stock-markets-next-move/

"The fundamental underpinnings for the market's next move would come from the conclusion of parliament's review of the 2023 budget proposal and its passage into law, expected in the next few weeks. The expansionary budget, after coming into force, would result in meaningful liquidity injections"

The third step was getting the budget finalized so the new rate can be implemented.

According to METEC and what the IMF has said along will be the peg to the US dollar. 1 to 1 with the potential to move higher over time.

In 2003 US economist Mark Spiegel talked about different monetary regimes for post war Iraq. He specifically mentioned what is taking place today with METAC.

Here is the link if you want to read it? It's very interesting that he was right on target with his information!

https://www.frbsf.org/economic-research/publications/economic-letter/2003/may/what-monetary-regime-for-post-war-iraq/

Now here is the information from METAC! "The mission raised awareness on the necessity to complete the monetary policy framework under an exchange rate peg by introducing an active domestic liquidity management. The mission provided a set of focused recommendations to address the short-term challenges to the sustainability of the exchange rate peg. Follow-up TA is envisaged to build a full instrument set supported by liquidity monitoring and forecasting."

Also the last paragraph states- "In March 2023, METAC assisted the Iraqi Central Statistics Organization (CSO) with implementing improvements to the consumer price index (CPI) in areas identified as shortcomings during the October 2022 mission. This included working with the authorities to create an experimental compilation system based on chained short-term relatives and geometric means in Excel. This new compilation system is planned to be introduced by July 2023"

https://www.imfmetac.org/content/metac/en1/technical-assistance/areas/iraq.html

Why are the statistics essential for Iraq?

 Because they cover inflationary gaps for higher costs of goods, services, imports/exports etc. They also cover individual and corporate tax brackets for economies that expecting financial shifts. See where this is going?

Also if you look at the IMF's Monetary and Financial Statistics compilation guidebook. https://www.imf.org/external/pubs/ft/cgmfs/eng/pdf/cgmfs.pdf

It outlines everything a country needs to have in place for international compliance. This manual is a "significant component of the IMF work on enhancing the quality, availability, and analytical usefulness of financial-sector data in both in-country and international contexts" and this is a lot of what METAC has been working with Iraq on since 2015!

They have been quietly working behind the scene to get everything the IMF need to give them the green light! Well the green light was given!

Hang in there folks! It's been 18 years for me! Let's see what happens July 1st!

Thanks to Recaps!

Tuesday Morning Iraq Economic News Highlights 6-20-23

Tuesday Morning Iraq Economic News Highlights 6-20-23

The Democrat Calls On The President Of The Republic Not To Ratify The Budget

Information/Baghdad..  The Kurdistan Democratic Party called on the President of the Republic, on Tuesday, to refrain from approving the budget law, indicating that he may challenge the budget items before the Federal Supreme Court.

The leader of the party, Wafa Muhammad Karim, said, in a televised interview followed by Al-Maalouma, that "we asked the President of the Republic not to approve the budget, because the changes in the budget were unfair."

 He added, "We have entered a new phase of mistrust between the political forces, and what happened in the budget file is an 'intentional ambush'," noting that "the political process is now witnessing a complete lack of trust."

 And he continued, "Sending a budget directly to Sulaymaniyah represents a defection, and that the political differences in the region negatively affected the unification of the Kurdish ranks," hinting that his party resorted to "submitting an appeal before the Federal Court on the items of the budget.” LINK

Parliamentary Finance Sets A Time Limit For The Budget To Enter Into Force

Baghdad today – Baghdad  Today, Tuesday, the Parliamentary Finance Committee suggested that the President of the Republic would approve the budget law during the month of July.

“The President of the Republic is supposed to ratify the budget law during the current week or the beginning of next week as a maximum, and in the event that it is not ratified, and 15 days have passed since the date it was sent, it is considered ratification of the law, even if it is not ratified according to the law and the constitution.” This What was confirmed by a member of the Finance Committee, Moeen Al-Kazemi, to (Baghdad Today).

He added, "The implementation of the budget law will be at the beginning of next month, after which the government will be able to spend the funds allocated for projects, and the citizen will see a major change in services during the next stage."

He pointed out that "the government, over the past months, was without any financial allocations that would enable it to implement its program."

Earlier, the representative of the Sadikoun Parliamentary Bloc, Zahra Al-Bajari, called on the President of the Republic to expedite the approval of the budget.

Al-Bajari told (Baghdad Al-Youm) that "the budget has been delayed a lot, and the citizen has been waiting for years and not months for approving the budget, since some of the past years did not witness the passing of a budget, and therefore we call on the President of the Republic to expedite the approval of the budget for the purpose of launching job grades and service projects."

Al-Bajari added, "Among the most important projects pending in the budget is financing the completion of the large port of Faw project, and we are pushing quickly to complete it, because it has a great impact on Iraq in general and Basra in particular."

For his part, the President of the Republic, Latif Rashid, said earlier that the Presidency of the Republic received yesterday a copy of the public financial budget, which is still in the process of being studied.

The government is still reviewing the budget to ensure that the amendments that have taken place are not opposed to the government program, while government spokesman Basem Al-Awadi hinted, in press statements, the possibility of appealing some articles.  LINK

Parliamentary Finance: Most Of The Articles In The Budget Law Have Been Agreed Upon With The Government

Iraq  Today, Tuesday, the Parliamentary Finance Committee confirmed that most of the budget amendments took place in coordination with the ministers, while it identified paragraphs in the budget that the government may object to.

Committee member Mueen Al-Kazemi said, "Most of the articles in the budget law have been agreed upon with the government, and the government can object if the amendments made by the committee and approved by the House of Representatives are not among the powers of the parliament," noting that "the amendments included transfers and reduction of some chapters, which are of the powers of Parliament.

Al-Kadhimi continued, "The government has the right to object to financial burdens if it finds doors or items that include an increase in financial burdens," explaining that "the government may object to the issue of employees who have been increased to 300,000 new degrees, but all other articles have been agreed upon with the government." ".He stated that "many of the amendments that took place in coordination with ministers and heads of agencies."    https://kirkuktv.net/AR/Details/15910

Al-Awadi: A Governmental Committee Is Studying Some Of The Budget Paragraphs To Take The Appropriate Decision In This Regard

Political   Today, Tuesday, the government spokesman, Basem Al-Awadi, confirmed the existence of a government committee studying some paragraphs of the budget to take the appropriate decision regarding them, while indicating that Iraq, after approving the budget, will turn into a workshop .

Al-Awadi told the Iraqi News Agency (INA), that "the prime minister welcomed the approval of the budget, and these are indications that confirm that the government is convinced of approving the budget, but despite that he left the door open with regard to some paragraphs.

The government may have another position on it through a special committee, the team." The economic team associated with the Prime Minister," pointing out that "the economic team will study these paragraphs and take the appropriate decision from them during the coming period."

He added, "The overall budget that came out of Parliament is good and preserved its philosophy that the government wanted, and there are not many objections to it," noting that "the budget provides the ministries with legal space and funds, and the next six months will be radically different in work and financing."

He stressed that "the priority of the government curriculum is a number of aspects that the Prime Minister insists on implementing and making them among the priorities of government work, which he made the basics of the budget and include providing services, combating poverty, combating unemployment and economic reform,"

noting that "investment projects include many aspects related to housing construction and roads Bridges and others, but the government’s philosophy directs investment towards priorities such as the development road that will transform Iraq into a strategic road and provide hundreds of thousands of job opportunities, in addition to the Al-Nibras project, which is a large project that is supposed to provide one million tons annually of all types of petrochemicals, and it is part of the government’s plan to provide Tens of thousands of jobs.

He continued, "The investment objectives that are related to strengthening the state include strategic projects that aim to fight unemployment and provide job opportunities."

And he continued, "In the past six months, the citizen has felt the government's seriousness in working according to the amount of money that existed before approving the budget, especially with regard to providing services, especially in the Baghdad governorate,"

stressing that "Iraq will turn into a workshop in all governorates, and the prime minister has been waiting for the budget since It will take a long time for it to start implementing actual workshops that advance all governorates, and the next six months will be different in terms of work.”   https://www.ina.iq/187887--.html

Government Spokesman: Iraq, After Approving The Budget, Will Turn Into A Workshop

Tuesday 20, June 2023 14:51 | politics Number of readings: 33  Baghdad / NINA / - The government spokesman, Basem Al-Awadi, confirmed the existence of a government committee studying some paragraphs of the budget to take the appropriate decision regarding them, while indicating that Iraq, after approving the budget, will turn into a workshop .

Al-Awadi said to the official agency, “The Sudanese Prime Minister, Muhammad Shia’a, welcomed the approval of the budget, and these are indications that confirm that the government is convinced of approving the budget, but despite that he left the door open with regard to some paragraphs. With the Prime Minister," pointing out that "the economic team will study these paragraphs and take the appropriate decision from them during the coming period."

He added, "The overall budget that came out of Parliament is good and preserved its philosophy that the government wanted, and there are not many objections to it," noting that "the budget provides the ministries with legal space and funds, and the next Six months will be radically different in work and financing.

He stressed that "the priority of the government curriculum is a number of aspects that the Prime Minister insists on implementing and making them among the priorities of government work, which he made the basics of the budget and include providing services, combating poverty, combating unemployment and economic reform,"

noting that "investment projects include many aspects related to housing construction and roads, Bridges and others, but the government's philosophy directs investment towards priorities such as the development road that will transform Iraq into a strategic road and provide hundreds of thousands of job opportunities, in addition to the Al-Nibras project, which is a large project that is supposed to provide one million tons annually of all types of petrochemicals,And it is part of the government's plan to provide tens of thousands of jobs.

He added, "The investment objectives that are related to strengthening the state include strategic projects that aim to fight unemployment and provide job opportunities."

He continued, "In the past six months, the citizen has sensed the government's seriousness in working as much as the funds available before approving the budget, especially with regard to providing services, especially in the Baghdad governorate," stressing that "Iraq will turn into a workshop in all governorates, and the prime minister has been waiting for the budget for some time.”

Long until he starts implementing actual workshops that promote all governorates, and the next six months will be different in terms of work https://ninanews-com.translate.goog/Website/News/Details?key=1060631&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Government Spokesman: A Government Committee Studies Some Of The Budget Paragraphs To Take The Appropriate Decision In This Regard

Iraq  14:30 - 2023-06-20  GovernToday, Tuesday, the government spokesman, Basem Al-Awadi, confirmed the existence of a government committee studying some paragraphs of the budget to take the appropriate decision regarding them, while indicating that Iraq, after approving the budget, will turn into a workshop.

Al-Awadi said, "The prime minister welcomed the approval of the budget, and these are indications that confirm that the government is convinced of approving the budget, but despite that, he left the door open with regard to some paragraphs.

The government may have another position on it through a special committee, the economic team associated with the prime minister." Pointing out that "the economic team will study these paragraphs and take the appropriate decision from them during the coming period."

He added, "The overall budget that came out of Parliament is good and preserved its philosophy that the government wanted, and there are not many objections to it," noting that "the budget provides the ministries with legal space and funds, and the next six months will be radically different in work and financing."

He stressed that "the priority of the government curriculum is a number of aspects that the Prime Minister insists on implementing and making them among the priorities of government work, which he made the basics of the budget and include providing services, combating poverty, combating unemployment and economic reform,"

noting that "investment projects include many aspects related to housing construction and roads Bridges and others, but the government’s philosophy directs investment towards priorities such as the development road that will transform Iraq into a strategic road and provide hundreds of thousands of job opportunities,

in addition to the Al-Nibras project, which is a large project that is supposed to provide one million tons annually of all types of petrochemicals, and it is part of the government’s plan to provide Tens of thousands of jobs.

He continued, "The investment objectives that are related to strengthening the state include strategic projects that aim to fight unemployment and provide job opportunities."

And he continued, "In the past six months, the citizen has felt the government's seriousness in working according to the amount of money that existed before approving the budget, especially with regard to providing services, especially in the Baghdad governorate,"

stressing that "Iraq will turn into a workshop in all governorates, and the prime minister has been waiting for the budget since It will take a long time for it to start implementing actual workshops that advance all governorates, and the next six months will be different in terms of work.”    https://kirkuktv.net/AR/Details/15920

"Tidbits From TNT" Tuesday Morning 6-20-2023

TNT:

CandyKisses:  Trade adopts the mechanism of the electronic system in the registration of new companies

Today, Tuesday, the Ministry of Commerce clarified the mechanism for registering new companies, while noting that 48 services related to company registration will be switched to the electronic system within two weeks.

The Director General of Companies Registration in Iraq in the ministry, Rashad Khalaf Hashim, told the official agency (Al-Oula News), that "the ministry through its website explains the steps for those wishing to establish new companies, starting with the first step, which includes uploading documents to the system and sending them to the registrar and the required documents, and ending with obtaining a license to establish the company."

"After the company's lawyer pays the fees, the company's establishment license is obtained within a maximum period of 10 days," he said.

Harambe:  Zimbabwe's Central Bank Set to Launch P2P Platform for Facilitating Gold-Backed Digital Currency Transactions – Africa Bitcoin News (6/20/23)

 The Reserve Bank of Zimbabwe has said it is getting close to launching a peer-to-peer platform which will facilitate digital gold token transactions. The central bank said the launch of the platform is expected to help reduce local demand for the greenback. Governor John Mangudya said the tokens have a value which is “linked to the London Bullion Market Association (LBMA).”

‘Gold Token’ Bank Accounts

The Zimbabwean central bank has said it is “finalizing” the establishment of a peer-to-peer (P2P) platform which is expected to facilitate digital gold token transactions. According to a June 17 Sunday Mail report, the Reserve Bank of Zimbabwe (RBZ) hopes to launch the platform towards the end of the month.

The P2P platform is part of the central bank’s measures which seek to diminish local demand for the U.S. dollar and to stabilize the Zimbabwean dollar. The latest digital gold token announcement by the RBZ came just a few weeks after it launched a gold-backed digital currency. As reported by Bitcoin.com News at the time, the RBZ initially said the tokens “would be used both as a means of payment and a store of value.”

According to the Sunday Mail report, holders of the digital gold tokens will be required to open “gold token” bank accounts which in turn will be converted to a U.S. dollar-benchmarked value system. The report added that the gold tokens will also be added to the mix of currencies which are legal tender in Zimbabwe.

P2P Platform Undergoing Tests

The report revealed that the central bank has sold some 313.9 kilograms of gold-backed digital tokens so far, and also quotes the RBZ governor revealing that the P2P platform is currently undergoing tests.

“The second phase of the rollout of the digital gold tokens, which will enable transacting using the gold-backed digital currency, will start this month, and we are currently testing the system before launch,” Mangudya said.

The RBZ governor also said the tokens have a value which is linked to the London Bullion Market Association (LBMA). He added that the digital gold tokens will be stored in a special wallet known as an e-gold wallet or gold card.

Persistence Gwanyanya, an economist and a member of the central bank’s monetary policy committee, is quoted in the same report hailing the measures taken by the RBZ. Gwanyanya said he expects to start seeing positive results in the coming weeks.

 https://news.bitcoin.com/report-zimbabwes-central-bank-set-to-launch-p2p-platform-for-facilitating-gold-backed-digital-currency-transactions/

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Harambe:  Samsung Wallet comes to Vietnam with Shinhan Bank integration - SamMobile (6/20/23)

Samsung Vietnam signed an MoU with Shinhan Bank Vietnam on June 14 to establish a partnership that will bring Samsung Wallet closer to the Vietnamese people. Thanks to this partnership, Samsung Wallet users in Vietnam can load their Shinhan Bank cards on the app and use them on the go.

This MoU will bring together the strengths of both companies together, to create an integrated digital payments solution in Vietnam. Samsung Wallet and Shinhan Bank in Vietnam let Samsung Galaxy owners link their Shinhan Bank cards with the Samsung Wallet app for quick payments.

Thanks to Samsung’s leading security platform and other features, this will bring peace of mind when people make any transactions and bring this modern mobile payment solution into their daily lives. Also, in order to boost the usage of Samsung Wallet among Vietnamese customers, Galaxy smartphone owners will enjoy special offers from Shinhan Bank for purchasing Samsung products using the wallet.

Users will be able to enjoy seamless transactions across all services thanks to Samsung’s KnoxGuard mobile payment method bringing the highest security quality. Some attractive incentives that are available to the users from June 16 to July 15 are direct discounts of VND 500,000 (roughly $21.25) when purchasing the Galaxy S23 series, the Galaxy Z Fold 4, and the Galaxy Z Flip 4 with a Shinhan Visa card via the Samsung Wallet app.

Also, users will get one Laneige voucher worth VND 400,000 (roughly $17) if they complete four transactions per week using the Samsung Wallet app. There is also 50% cash back on every first transaction using the Shinhan card via the Samsung Wallet app, among other benefits.

https://www.sammobile.com/news/samsung-wallet-vietnam-shinhan/

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Mot:  ... Just Asking - aaahhhh - fer a Friend!!! ~~~~

Iraqi News Highlights Monday Evening 6-19-23

Iraqi News Highlights Monday Evening 6-19-23

Tlm724 Administrator Bondlady’s Corner

Adviser To The Prime Minister Recommends Activating A Legal Text To Prevent Monopoly And Control Prices

 Economy 06-18-2023, Baghdad - Conscious - Nassar Al-Hajj  Today, Sunday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, recommended the need to activate the Anti-Monopoly and Competition Law of 2010 to prevent monopoly and control prices, while noting that what he called the dark market dominates more than 60% of private sector activities.  Salih told the Iraqi News Agency (INA), "The Iraqi market suffers from a phenomenon called market deficiencies, in which the level of available supply of goods and services is insufficient to meet consumers' needs and desires, as a percentage of potential demand is met, which leads to price disturbances that lose economic stability its objective conditions."  And it causes the emergence of dangerous monopolistic centers.” 

He added, "The dark-colored or unofficially defined market dominates more than 60% of the private sector's activities,  a phenomenon that  threatens price stability and  leads to disturbances in the organization of storage and the quality of supply, as well as the  rapid birth of monopolies, causing great damage to the organization of economic life.".  ‘

He continued, "The House of Representatives approved in 2010 (Law on Competition and Prevention of Monopoly) No. 14, which aims to regulate competition and prevent monopolistic practices harmful to society by investors, producers, marketers, or others in all economic activities." 

He pointed out that "the law did not take its course in implementation due to the dangerous influence of commercial liberalism, the unregulated commercial market, and the loss of many of its conditions by market institutions, especially the broad regulation of commercial companies," noting that "the law emphasizes ensuring freedom of competition and preventing monopoly in markets, and creating an incentive to reduce Cost, price and quality improvement in relation to the goods and services offered in the market,

which leads to the encouragement and development of the private, mixed and public sectors in support of the national economy and the good flow of goods and services, and at the same time

there is a complete absence of the application of the text of Article 4 of the law related to the establishment of the Competition Affairs and Monopoly Prevention Council.  And he indicated that

“the Council for Competition and Anti-Monopoly Affairs lies in its importance for essential tasks, foremost of which is preparing the general plan for competition and preventing monopoly, applying legislation related to competition and preventing monopoly with the relevant authorities, and working to spread the culture of competition and preventing monopoly, protecting and encouraging it, as well as working to investigate information and practices that violate the rules Competition and preventing monopoly in cooperation with the relevant authorities in accordance with the provisions of the legislation, and conducting investigations into the practices that it reveals or based on the complaints and news it receives or those that come at the request of the court and preparing reports on its results. 

He stressed that  "the council is also responsible for  issuing a guide on everything related to issues of monopoly, merger and restricted commercial practices, as well as

seeking help from experts or consultants to complete any of the works that fall within its competence, and  coordination and cooperation with similar bodies outside Iraq in the field of exchanging information and data and

what is related to the implementation of competition rules and preventing Monopoly within the limits permitted by international treaties, on the condition of reciprocity, and  submitting an annual report to the Council of Ministers on the status of competition and preventing monopoly. 

He pointed out that  "work must be done to put the law into effect, starting with announcing the formation of the Competition Affairs and Monopoly Prevention Council, in accordance with what was stipulated in Law No. 14 of 2010."    https://www.ina.iq/187749--.html

The Minister Of Commerce Announces That Iraq Will Pay The Sums Of Its Membership In The World Trade Organization (WTO)

political| 10:01 - 06/19/2023  Baghdad - Mawazine News  Trade Minister Atheer Daoud Al-Ghurairy announced the completion of technical and logistical procedures to pay the sums owed by Iraq to the World Trade Organization (WTO).

The ministry stated, in a statement that Mawazine News received a copy of, that "the Department of Foreign Economic Relations, in coordination with the administrative and financial department in the ministry, and with exceptional efforts, was able to complete all procedures related to the payment of sums owed by Iraq in favor of the organization, for its membership in it as an observer, since the contribution has accumulated."

 For previous years, as a result of the delay in approving the general budget for Iraq, in addition to reducing its percentage due to the austerity measures followed since 2018.  

The statement added, "The Minister of Commerce and Chairman of the National Committee on Iraq's accession to the organization had issued directives to give the issue the utmost importance."

For his part, the Director General of the Department of Relations in the Ministry, Riyad Al-Hashemi, emphasized addressing the concerned authorities with the need to resolve the file and implement the recommendations of the Diwani Order Committee No. 6 of 2022 regarding financial contributions to international and regional organizations, in addition to the fact that

this issue is consistent with the paragraphs of the government curriculum that gave priority to cooperation with organizations. International is of particular importance because of its widespread influence on the global economy.   

He pointed out that "his department gave the WTO file a special importance within its plan prepared for the coming period, which supervises the implementation of the part related to it by the WTO department by coordinating the efforts of all government sectors to serve the interest of Iraq and its position."

https://www.mawazin.net/Details.aspx?jimare=229677

Iraq's Gas Reserves Are Equivalent To What It Has Imported Annually For 200 Years

economy |Yesterday, |Baghdad today – Baghdad  Today, Sunday, the expert on oil affairs, Kovind Sherwani, revealed Iraq's reserves of natural gas and the importance of investing it during the next stage.  Sherwani told (Baghdad Today) that

"Iraq has huge reserves of natural gas amounting to more than 130 trillion cubic feet," pointing out that

"production is very little, and therefore Iraq needs to import more Iranian gas despite the existence of this large reserve." very". 

He added, "The completion of some gas investment projects brings Iraq, and during the next two years, to the stage of self-sufficiency in gas," stressing that "this step will save billions of dollars for the state treasury, which makes Iraq able to operate all its basic electrical stations."   

And he indicated that "although Iraq ranks 11th in the size of its gas reserves, it still imports it, and this is an indication of mismanagement in the gas file over the past years, with the presence of influential parties that impede any development in the natural gas investment file."

And on increasing oil production, the expert on oil affairs confirmed that "there is a real tendency for Iraq to increase oil production," especially since "Iraq relies entirely on selling oil to finance its budget." 

He concluded by saying, "Iraq would like to increase its production in order to increase exports in the coming years," noting that "the current reduction in exports is temporary and for a specific stage."

Iraq relies on Iranian gas to operate electric power plants, and the former Iraqi Minister of Electricity, Adel Karim, had confirmed the need for Iranian gas for a period between 5 and 10 years.

For his part, Iranian Oil Minister Javad Oji announced the extension of his country's gas exports to Iraq for the next five years, after the arrival of gas was delayed for more than two months, due to "gas pipeline maintenance," which led to a reduction in Iran's gas exports to Iraq.

And Prime Minister Muhammad Shia'a al-Sudani had previously confirmed that Iraq would depend on associated gas to provide the internal need for gas used in generating electric power.

https://baghdadtoday.news/224194-احتياطي-العراق-من-الغاز-يعادل-مايستورده-سنويًا-لـ200-عام.html

Iraq's Gas Reserves Are Equivalent To What It Has Imported Annually For 200 Years

Economy  |Yesterday, 16:29 |  Baghdad today – Baghdad  Today, Sunday, the expert on oil affairs, Kovind Sherwani, revealed Iraq's reserves of natural gas and the importance of investing it during the next stage.  Sherwani told (Baghdad Today) that "Iraq has huge reserves of natural gas amounting to more than 130 trillion cubic feet,"   pointing out that "production is very little, and therefore Iraq needs to import more Iranian gas despite the existence of this large reserve." very". 

He added, "The completion of some gas investment projects brings Iraq, and during the next two years, to the stage of self-sufficiency in gas," stressing that "this step will save billions of dollars for the state treasury, which makes Iraq able to operate all its basic electrical stations." 

And he indicated that "although Iraq ranks 11th in the size of its gas reserves, it still imports it, and this is an indication of mismanagement in the gas file over the past years, with the presence of influential parties that impede any development in the natural gas investment file."

And on increasing oil production, the expert on oil affairs confirmed that "there is a real tendency for Iraq to increase oil production," especially since "Iraq relies entirely on selling oil to finance its budget."  He concluded by saying, "Iraq would like to increase its production in order to increase exports in the coming years," noting that "the current reduction in exports is temporary and for a specific stage."

Iraq relies on Iranian gas to operate electric power plants, and the former Iraqi Minister of Electricity, Adel Karim, had confirmed the need for Iranian gas for a period between 5 and 10 years.

For his part, Iranian Oil Minister Javad Oji announced the extension of his country's gas exports to Iraq for the next five years, after the arrival of gas was delayed for more than two months, due to "gas pipeline maintenance," which led to a reduction in Iran's gas exports to Iraq.

And Prime Minister Muhammad Shia'a al-Sudani had previously confirmed that Iraq would depend on associated gas to provide the internal need for gas used in generating electric power.

https://baghdadtoday.news/224194-احتياطي-العراق-من-الغاز-يعادل-مايستورده-سنويًا-لـ200-عام.html

The Possible Economic Effects Of The Iranian-American Agreement On Iraq (Details)

Economy  |06-17-2023, 11:26 | Baghdad today – Baghdad  Economic expert Nabil Al-Marsoumi explained today, Saturday, the possible economic effects on Iraq after the Iranian-American agreement.

Al-Marsoumi said in a post that I followed (Baghdad Today) that "there are many indications that the announcement of an interim agreement between Iran and the United States will soon be announced, after the International Atomic Energy Agency announced the resolution of outstanding issues with Iran related to uranium enrichment rates that reached 83%, as well as issues related to the discovery of nuclear activities." nuclear weapons at some undeclared sites by Iran. 

He pointed out that  "this means that the contentious issues between Iran and the agency have been resolved," noting that "any US-Iranian agreement would lead to an increase in Iranian oil production and exports between half a million and one million barrels per day, which would lead to a decrease in oil prices." And that will negatively affect oil revenues in OPEC countries, including Iraq." 

He continued,  "But on the other hand, if this agreement leads to the abolition of restrictions on bank transfers in dollars to Iran, this will lead to a significant improvement in the exchange rate of the dinar against the dollar, and

the parallel exchange rate will come very close to the official rate as a result of the shift in the payment of Iranian merchants' dues from cash dollars to remittances." banking". 

And he indicated that "it will also result in an increase in Iranian gas releases to Iraq, as the agreement will lead to the possibility of paying Iran's debts to Iraq in dollars."

Earlier, media sources announced an imminent agreement between the US and Iran regarding the nuclear file.  https://baghdadtoday.news/224112-الآثار-الاقتصادية-للاتفاق-الإيراني–-الأميركي-المحتمل-على-العراق-(تفاصيل).html

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Goldilocks "Iraq pays its WTO membership amounts....and more" 6-19-2023

Goldilocks and Seeds of Wisdom

Thank you RJ:  

RJ:  Good evening Dinar Recaps,

Goldilocks posted several comments and news items today:

CHAPS transitions to latest global financial messaging standard

Yes, it's done.

© Goldilocks

https://www.bankofengland.co.uk/news/2023/chaps-transitions-to-latest-global-financial-messaging-standard

JUST IN: International Monetary Fund is developing a digital currency platform to enable transactions between countries.
@WatcherGuru

☝️ This is wholesale CBDC, not retail CBDC.

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THE INTERNATIONAL MONETARY FUND IS WORKING ON A PLATFORM FOR CENTRAL BANK DIGITAL CURRENCIES TO ENABLE TRANSACTIONS BETWEEN COUNTRIES

Here comes the monetary reset.

Read: https://twitter.com/goldtelegraph_/status/1670807239140028420?s=46

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Well, well, well. Look at what we have here. Iraq pays its WTO membership amounts.

Do you really think they can do this without a rate? "NOT"

© Goldilocks

https://search4dinar.wordpress.com/2023/06/19/iraq-pays-its-wto-membership-amounts/

~~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

Goldilocks' Telegram Room

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Thank you Dinar Recaps

Goldilocks "Everything goes to real values during this transition." 6-19-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ:  Good morning Dinar Recaps,

Goldilocks posted comments and news links this morning:

Iraq is in process of opening up their private sector to trade and business.

Other countries are interested in this venture as well and want to open up manufacturing companies inside of Iraq.

This is, in turn, requiring the need for a foreign currency industry to promote and provide money transfers to keep these industries going.

As we all know, Iraq is only using their National Currency going forward. This will increase the demand for the Iraqi Dinar which increases its value in their local and global economy.

This move will create a self-sustaining economy. Iraq is becoming a stable economy, and it's move to include other countries inside the country of Iraq will expand their reach onto the International Stage.

© Goldilocks

https://cbi.iq/news/view/2359

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The United Nations Development Program covers over 170 countries around the world.

The UNDP helps countries like Iraq expand and grow into the International community.

At the present time, Iraq is working on bilateral relationships with countries outside of Iraq to bring in more demand for their local economy. 

Iraq lost its position on the world stage years ago, but it is coming back and "reinstating" its presence in the world.

© Goldilocks

https://jordantimes.com/news/local/iraq-trade-minister-meets-contractors-association-union-representatives

https://cbi.iq/news/view/2360

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The Bank of England begins its process of migration into the ISO20022 messaging system.

This will complete the process of inclusion inside major banks around the world regarding this International Message System that will be included on every International Payment Transfer.

This is a very pivotal moment in the digital banking system around the world, and the importance of this migration will carry us into the third quarter of this year operating it with the full power of quantum financing systems around the world synchronized and standardized with a backing of real assets such as gold.

© Goldilocks

https://twitter.com/payment_infrast/status/1670727555471532032?t=BB-DIXBB9NbABJleeORBgg&s=35

https://twitter.com/ANT159694954/status/1670761780602191872?t=-eHqIFSXbBgXNqTB9wHuRw&s=35

~~~~~~~~~~

We still have one more big hurdle that I see happening simultaneously with other events.

As one Financial System craters and falls, a new one will replace it with stronger support systems ever seen before in history.

Everything goes to real values during this transition.

Beginning July 1st and maybe even before with the markets, we will witness a great deal of volatility and change take place in countries around the world.

During this time of rising and falling of a new and old economy, new values will begin to form new price action patterns based upon real values through a standardized process backed by gold.

Remember, this is a process and not a button based on any one particular event. There will be many events coming at us at one time. They will all create a culminating event we are looking for at this time.

Each Guru has something to offer at this point. It is not a time to pick sides, but I will caution you to choose well in who you listen to during this time. It will determine your path forward.

Use your mind and listen to your heart, and you will be guided by voices of truth capable of carrying you into the next economy.

© Goldilocks

https://wolfstreet.com/2023/06/17/us-national-debt-hits-32-trillion-up-by-572-billion-since-debt-ceiling-suspended-tga-starts-refilling-draining-liquidity-from-markets/

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"Now, as the U.S. Federal Reserve signals more interest rate hikes are on the way (as well as a $1.1 trillion shock), expectations are climbing that an economic stimulus package out of China could "inflate everything"—including Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Tron, Solana and polygon's Matic." 

RVs in metals, crypto, and currencies are about to commence.

Digital liquidity, gold tokens, and paper currencies are now tied together in so many ways. 

Be ready.

© Goldilocks

Forbes LINK

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Important Banking Announcement from Zimbabwe:

RBZ finalizes platform for digital token payments | The Sunday Mail

https://www.sundaymail.co.zw/rbz-finalises-platform-for-digital-token-payments

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BREAKING ANNOUNCEMENT:

"The @bankofengland has today successfully migrated #CHAPS, the UK’s high-value payments system, to #ISO20022. Executive Director of Payments Victoria Cleland said: The  introduction of the ISO 20022 financial messaging standard marks a major  milestone in

our..."

In the above breaking announcement, the Bank of England has completed their migration into the ISO20022 messaging system. At this point, their high value trading system is done.

This will significantly transfer money across borders with clarity. The FEDNOW payment system will enable fast transactions. And, this happens the first week of July. It just so happens to be how long Iraq has to finish their budget sign-offs and FEDNOW training. 😉

We have a global quantum banking system currently capable of moving transactions around the world within seconds.

As exciting as this is, don't forget the June 30th to July 1st transition of Libor to SOFR lending services.

Remember, all roads lead to gold and gold will set us free.

© Goldilocks

https://twitter.com/payment_infrast/status/1670781369016897536?t=9_Jh5gqJ82apNDVUZeCeuA&s=19

~~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

Iraqi News Highlights Monday Afternoon 6-19-23

Iraqi News Highlights Monday Afternoon 6-19-23

Tlm724 Administrator Bondlady’s Corner

The Decline In The Exchange Rates Of The Dollar In Today's Trading

Economy |  06/19/2023  Baghdad - Mawazine News  Today, Monday, the exchange rates of the dollar recorded a decline in the stock market and local markets in the capital, Baghdad.

A Mawazine News correspondent said, "The buying and selling prices of the dollar witnessed a decrease in exchange shops in the local markets, as the selling price reached 147,500 dinars per 100 dollars, while the purchase prices reached 145,500 dinars per 100 dollars, in the capital, Baghdad." Ended 29/a

https://www.mawazin.net/Details.aspx?jimare=229620

A Big Jump In The Central Bank's Sales Of Foreign Currency

Economy | 06/19/2023   Baghdad - Mawazine News  Today, Monday, the Central Bank of Iraq's sales of foreign currency increased, recording more than $243 million.

According to the schedule of the currency sale window, which was followed by Mawazine News, the Central Bank sold during its auction today 243,927,425 dollars, which the bank covered at an exchange rate of 1305 dinars, per dollar for documentary credits and international settlements of electronic cards, and at a price of 1310 dinars per dollar for external transfers, and at a price of 1310 dinars per dollar, respectively. monetary.

Most of the dollar sales went to enhance balances abroad in the form of (remittances, credits), amounting to $222,597,425 million, while the remaining $21,330,000 million went in the form of cash sales. Ended 29/a    https://www.mawazin.net/Details.aspx?jimare=229634

Al-Sudani: The Path Of Development Includes Great Economic Revenues For Iraq, And We Are Continuing To Achieve It

Reconstruction and building  Economy News – Baghdad  Today, Monday, Prime Minister Muhammad Shia Al-Sudani chaired a meeting of the Special Committee for the implementation of the Development Road Project, in the presence of the Minister of Transport, the Minister of Construction, Housing and Municipalities, the Chairman of the Investment Authority and a number of specialized advisors.

Al-Sudani stressed, according to the statement, that "the government is moving towards the completion of the development path project, as it includes large economic revenues for Iraq, and the creation of job opportunities and sustainable development, whose benefits extend throughout the region, in a way that enhances facing regional and international economic challenges."

According to the statement, "During the meeting, ways to achieve the supreme interest of Iraq were discussed in the implementation of this important strategic project, the involvement of countries wishing to join it, and the study of offers submitted by countries and major companies."

The meeting also affirmed "going towards the use of the expertise of discreet international companies in aspects related to the smallest details of the project, in order to ensure its completion in accordance with the latest plans, specifications and international programs."

Views 9   06/19/2023 https://economy-news.net/content.php?id=34823

Exceeded One Billion Dollars .. Sales Of The Iraqi Central In A Week

Economy | 09:18 - 06/19/2023   Baghdad - Mawazine News  The total sales of the Central Bank of Iraq in hard currency to US dollars during the past week amounted to more than one billion dollars.

A Mawazine News correspondent stated that the Central Bank sold during the past week, for the five days in which the auction was opened, the amount of one billion and 50 million and 728 thousand and 266 dollars, at a daily rate of 210 million and 145 thousand and 653 dollars, down by 0.33% from what was recorded the week before. precedent, which amounted to a daily rate of 210 million and 840 thousand and 300 dollars.

The highest sales of the dollar during the past week were on Thursday, when sales amounted to 227 million and 220 dollars, while the lowest sales were on Monday, when sales amounted to 201 million, 771 thousand and 781 dollars.

Sales of foreign remittances during the past week amounted to 890,228,266 dollars, an increase of 82% compared to cash sales, which amounted to 160,500,000 dollars.

And our anchors explained that the sales went in the form of cash and transfers abroad to finance foreign trade, while the selling price of documentary credits amounts and international settlements for electronic cards reached 1305 dinars per dollar, while the selling price of remittances abroad and the cash sale price amounted to 1310 dinars per dollar. Ended 29/a. https://www.mawazin.net/Details.aspx?jimare=229608

The Steering Committee For The Follow-Up Of The Executive Agreement Between The Iraqi Government And The United States Agency For International Development Holds Its First Meeting

Monday 19, June 2023 17:01 | Economical Number of readings: 156  Baghdad / NINA / - The steering committee for following up the executive agreement between the Iraqi government and the US Agency for International Development held its first meeting at the Ministry of Planning.

The Ministry of Planning stated in a statement, "The Undersecretary for Technical Affairs, Maher Hammad Johan, headed the Iraqi side, while the American side was headed by Todd Sorenson, Director of the US Agency for Development in Iraq.

The Undersecretary affirmed," the Ministry's readiness to carry out the work of the committee in order to move quickly in implementing the executive agreement signed between the two sides

. Noting, "This meeting is the first for the committee that undertakes the implementation of the terms of the agreement and the tasks stipulated. According to the terms of reference document."

"The executive agreement aims to promote economic growth, enhance citizens' confidence in the state, meet the needs of vulnerable population groups and combat violent extremism," Johan said,

noting that "the meeting discussed government directions in light of the new ministerial curriculum, which included several priorities, including: combating financial and administrative corruption."

Supporting the poor, vulnerable and low-income groups, and developing and improving services that affect the lives of citizens.

He added, "The meeting included a discussion of the allocated and unallocated financial amounts committed to implement ongoing activities within the Agency's activities and the new amounts distributed under the agreement and its objectives, as well as a discussion of the funding mechanism for the agreement and the mechanism for selecting new projects, as well as the position of previous projects of the US Agency and the next steps."  

The meeting also discussed reviewing the agency's ongoing programs and aligning them with the government program, and coming up with a list of programs that represent the government's priority in light of its new ministerial platform, to be presented to the committee and in coordination with the relevant government agencies in accordance with the terms of the signed agreement   https://ninanews.com/Website/News/Details?key=1060483

Economist: The Path Of Development Pushes China And The Countries Of The World To Invest In Iraq

June 18 09:10  Information / Baghdad...  The economist, Safwan Qusay, confirmed, on Sunday, that the path of development will push China and the countries of the world to enter into investment in Iraq, which is the best location for linking the East with the West.

 Qusay said in an interview with Al-Maalouma, that "there are untapped resources in Iraq, especially in Mosul, which possesses sulfur, and  Anbar, which contains phosphates and petrochemicals in Basra, andcement in Muthanna, and

these resources can be a tributary to the Iraqi economy away from the difficulties of transporting and exporting these goods." By having a path of development.”   

He added,  "The Iraqi desert associated with neighboring countries can be a gateway to obtaining solar energy in cooperation with other countries that will be included in the development road plan."  And he indicated that

"the road of development has political, social and environmental dimensions that can contribute to the sustainability of the relationship with the countries of the world, just as

it is not against the Silk Road, but rather is considered a complement to this road, and

it may contribute to provoking China and pushing it towards investing in Iraq as it is the best site for linking the East." in the West.” ended 25 n

https://almaalomah.me/news/economy/اقتصادي:-طريق-التنمية-يدفع-الصين-ودول-العالم-للاستثمار-في-ال

To read more current and reliable Iraqi news please visit BondLady’s Corner:

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"Tidbits From TNT" Monday 6-19-2023

TNT:

Harambe:  Average payments via banks reach 40 billion USD a day | Vietnam+ (6/19/23)

Hanoi (VNA) – Cashless payments are developing rapidly in Vietnam, especially after the COVID-19 pandemic, with transactions via banks averaging 40 billion USD per day, according to Pham Anh Tuan, Director of the State Bank of Vietnam (SBV)’s Payment Department.

Speaking at a recent seminar held as part of Cashless Day 2023, Tuan said that the central bank has set a goal of making cashless payments account for half of all transactions by 2025.

It will prioritise the establishment of a more comprehensive, accessible, and secure payment infrastructure across the country to make digital payment a preferred mode of transactions for all.

The central bank is also drafting a new decree to create a legal framework to promote non-cash payments, he added.

According to an SBV report, more than 75% of adults across the country currently have a bank account.

Interbank electronic payment transactions increased by 52.8% year-on-year in terms of volume in the first four months, it said.

Payment via QR code had the most impressive growth with an increase of more than 161% in quantity and 36% in value.

Cash withdrawals at ATMs continued to decline, falling by 3.5% in quantity and 5.5% in value.

https://en.vietnamplus.vn/average-payments-via-banks-reach-40-billion-usd-a-day-insider/254892.vnp

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Tishwash:  The President of the Republic: Iraq is on the verge of an urban renaissance after approving the budget 

The President of the Republic receives the head of the Strategic Council for Foreign Relations in Iran

His Excellency the President of the Republic, Dr. Abdul Latif Jamal Rashid, received today, Monday, June 19, 2023, at the Baghdad Palace, the Head of the Strategic Council for Foreign Relations of the Islamic Republic of Iran, Mr. Kamal Kharrazi, and his accompanying delegation.

At the outset of the meeting, Mr. President welcomed the delegation, as His Excellency affirmed the development witnessed by the Iraqi provinces and cities in light of the consolidation of security and stability in the country. He also welcomed the delegation's visit to the city of Basra.

His Excellency spoke about the nature of relations between the two countries, pointing to the depth of social, geographical, historical and religious ties and economic interests that bind the two neighboring peoples.

And the President of the Republic indicated that Iraq is on the verge of an urban renaissance after the Parliament approved the general budget, stressing that the establishment of strategic studies centers is one of the indicators of the development of countries as it provides a clear vision for decision-makers in light of the many changes the world is witnessing in the fields of energy and water.

For his part, the head of the Strategic Council for Foreign Relations in the Islamic Republic of Iran expressed his happiness for this visit and meeting with His Excellency the President of the Republic, stressing that the Islamic Republic of Iran supports the security and stability of Iraq.

Kharrazi referred to the efforts made by the late Mam Jalal to expand relations, and praised the role of His Excellency the President in promoting cooperation between the Iraqi and Iranian peoples.
The head of the Strategic Council stressed the interest in developing relations between the two countries, pointing out that Iraq is the gateway to communication with the Arab countries, as he praised in this context Iraq's efforts to bring views closer to the Kingdom of Saudi Arabia. ink

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Tishwash:  Development Road.. A promising project to attract foreign investments and revitalize the private sector

The Iraqi government relies heavily on the development road project to bring about economic development in terms of infrastructure and investment, and to make Iraq a point of contact for global trade linking the East with the West.

The project includes a land line and a railway linking the Gulf to the Turkish border, which will be known as the development road.

The head of the Transportation and Communications Committee, Zahra Al-Bajari, told Al-Maalouma, "Investments in the path of development will be for foreign and Iraqi companies, and they may be companies from the private sector, and this is a great opportunity to provide job opportunities and activate this sector."

She added, "The road is one of the very important strategic projects that will provide Iraq's economy with a set of benefits, the first of which is providing hundreds of thousands of job opportunities, which will affect the stability of the security situation in Iraq."

On the other hand, Media Director of the Ministry of Transport, Maitham Al-Safi, told Al-Maalouma, that "the development road project will not make Iraq a mere trade corridor because it will be directly linked to the large port of Faw, in addition to that it will contain many industrial and commercial cities."

Al-Safi added, "The project will serve as an artery for the great port of Faw, through which global trade will pass from the east to European ports."

He pointed out, "The project will work to open lines connecting a number of governorates to activate tourism directly, whether it is archaeological, religious or recreational."

On the other hand, the economist, Dr. Safwan Qusay, confirmed to Al-Maalouma that “there are untapped resources in Iraq, especially in Mosul, which possesses sulfur, and Anbar, which contains phosphates and petrochemicals in Basra, and cement in Muthanna, and these resources can be a tributary to the Iraqi economy far away.” About the difficulties of transporting and exporting these commodities through the existence of a path of development.

He added, "The road of development has political, social and environmental dimensions that can contribute to the sustainability of the relationship with the countries of the world, just as it is not against the Silk Road, but rather is considered a complement to this road, and it may contribute to provoking China and pushing it towards investing in Iraq as it is the best site for linking the East." in the West.  link

Mot:  ... She is Sooo Helpful!! ~~~~~

Mot:  ... Gotta Love Gramps!!!